The easiest way to stick to a savings plan is to do it automatically.
- Have a percentage or set amount (say $100) automatically deducted (and invested) from your check before you even receive it.
- Set up an investment account (like a mutual) that keeps your money reasonably liquid but requires you to sign papers at the bank and then a few days to liquidate. This should curb spontaneous spending of large amounts of money.
- Put an upper limit on your bank account (say $10,000) and anything over that limit move to an investment account.
- Sign up to have bills automatically withdrawn from your account to avoid late charges.
- Have the bank automatically withdraw a set amount every month from your account and deposit it into your investment account.
It’s easiest to save when you don't have to handle the money. By having someone else handle your money you won't be tempted to spend it on the way to the bank.